Mitsui to acquire 49% stake in Gaspetro from Petrobras

Mitsui & Co. Ltd., Tokyo, said it is buying 49% of the shares of Petrobras Gas SA (Gaspetro) from Petroleo Brasileiro SA (Petrobras) for 1.9 billion reals ($490 million). Petrobras will retain 51%.

The Mitsui share purchase agreement with Petrobras includes equity stakes in local gas distribution companies in 19 Brazilian states, with daily gas supply totaling 30 million cu m. The transaction requires regulatory approval.

Of the 19 states, Mitsui already has equity interests in local distribution companies in eight states through Mitsui Gas e Energia do Brasil Ltda. Last year, Mitsui acquired an interest in Companhia de Gas do Ceara SA in northern Brazil.